Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives $8.88 Average PT from Brokerages

Key Points

• Evolv Technologies Holdings, Inc. has received a consensus rating of "Moderate Buy" from six analysts, with one sell, four buy, and one strong buy rating.
• The average twelve-month price target for Evolv Technologies is $8.87, with various analysts giving specific price targets between $7.50 and $10.00.
• Despite a recent negative earnings report, with a loss of ($0.25) earnings per share against an expected ($0.09), the company continues to attract interest from institutional investors, with 66.65% of the stock owned by them.

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.8750.

Several analysts have commented on the stock. Northland Securities raised shares of Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective on the stock in a research report on Wednesday, May 21st. TD Cowen reaffirmed a "buy" rating and set a $10.00 target price on shares of Evolv Technologies in a report on Friday, August 15th. Cantor Fitzgerald upped their target price on shares of Evolv Technologies from $7.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Lake Street Capital raised shares of Evolv Technologies from a "hold" rating to a "buy" rating and upped their target price for the stock from $5.50 to $9.00 in a report on Friday, August 15th. Finally, Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Hedge Funds Weigh In On Evolv Technologies

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Evolv Technologies by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock valued at $29,336,000 after purchasing an additional 477,124 shares in the last quarter. SCS Capital Management LLC purchased a new stake in Evolv Technologies during the 1st quarter valued at $15,061,000. Marshall Wace LLP boosted its position in Evolv Technologies by 74.4% during the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company's stock valued at $24,331,000 after buying an additional 1,662,797 shares during the period. Key Colony Management LLC boosted its position in Evolv Technologies by 2.0% during the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock valued at $19,375,000 after buying an additional 62,000 shares during the period. Finally, Northern Trust Corp boosted its position in Evolv Technologies by 6.3% during the 4th quarter. Northern Trust Corp now owns 1,136,210 shares of the company's stock valued at $4,488,000 after buying an additional 67,146 shares during the period. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV traded down $0.29 during mid-day trading on Friday, reaching $7.86. 827,929 shares of the company's stock traded hands, compared to its average volume of 2,440,343. The stock has a market cap of $1.35 billion, a P/E ratio of -14.28 and a beta of 1.71. The business has a 50-day simple moving average of $6.86 and a 200 day simple moving average of $5.06. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $8.91.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 76.80%. The business had revenue of $26.68 million for the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Evolv Technologies will post -0.27 earnings per share for the current fiscal year.

About Evolv Technologies

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.